Dear Sir or Madam,
At the beginning of last week, the ninth Petersberg Climate Dialogue with participants from 35 countries came to an end. In preparation for the World Climate Change Conference, which takes place this year in Katowice, Poland, the participants voted in favor that the implementation rules for the 2015 Paris Climate Change Agreement could be adopted. Here, the gradual migration of a socially acceptable exit from the fossil fuels is to succeed. Already in 2013, the World Climate Change Conference took place in Poland, which, unlike any other country, is supposed to change its energy policy with regard to its dependence on the production and generation of coal.
Meanwhile, European carbon rights prices rebounded last week from the previous week’s losses and rose back above the current high of 15 euros at the end of the week following strong auction demand.
The oil price also rose again after the joint oil ministers’ monitoring committee recommended a production increase of one million barrels (159 liters / barrel) per day, but ultimately only 600,000 barrels more should come on the market.
The member states of OPEC currently produce up to 32.5 million barrels of oil per day, which is ultimately converted into fuels, fuels or plastics, leaving behind significant climate and environmental damage.
Each liter of gasoline produces 2.33 kilograms of CO2 through the combustion engine, 2.64 kilos per liter of diesel and 2.53 kilograms of CO2 per liter of kerosene. Currently, about 675 tons of plastic waste land in the oceans every hour, which takes about 400 years to decompose. More than 100 million tons of plastic produced from oil have now accumulated in the oceans, forming islands of gigantic proportions.
Only an incorrigible optimist can argue here that humanity in its entirety possesses sufficient intelligence to handle these substantial problems of the present and the future.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 2018-06-15 | 2018-06-22 | Change |
| EUA (Spotmarket) | 14.52 EUR | 14.52 EUR | +0.57 EUR |
| EUA (December-2018-Future) | 14.53 EUR | 14.53 EUR | +0.59 EUR |
| CER (Spotmarket) | 0.23 EUR | 0.23 EUR | +0.00 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 73.33 USD | 73.33 USD | +2.38 USD |
| EURO (Currency, Forex) | 1.1605 USD | 1.1605 USD | +0.0048 USD |
(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask has usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. This market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)
Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.
With kind regards,
Advantag Services GmbH